April 10 (Bloomberg) -- The European Central Bank should be
more aggressive in buying up government debt to boost the
region’s economy, Banco Santander SA Chief Executive Officer
Alfredo Saenz said.

“It should be a little more aggressive in its monetary
expansion and be more aggressive in purchases of public and
private bank debt,” said Saenz, who helps run Spain’s biggest
bank, at a banking conference in Madrid today. “It would have
to do a stronger policy of European quantative easing.”

More than 800 banks borrowed more than 1 trillion euros
($1.31 trillion) from the ECB’s Long-Term Refinancing Operations
in December and February as the central bank provided the
region’s banks with unlimited funds to avert a credit crunch.

The three-year ECB loans are a “good step” though aren’t
enough to provide a stable financial environment for banks,
Saenz said. It’s also necessary for governments to meet
commitments to the European Union to cut their deficits agreed
with Brussels.